A Few Hours to Major Milestone in Ethereum

Ethereum (ETH) cryptocurrency its developers are preparing to release the Shapella upgrade on the Goerli testnet, the final step before the mainnet launch.

Final Preparation Before Initiating Withdrawals On Ethereum To Be Completed In A Few Hours

The upgrade will be launched on the Goerli testnet at epoch 162304 and is expected to occur around 01:25 CEST tomorrow.

Ethereum developers are gearing up for the launch of the highly anticipated Shapella upgrade on the Goerli testnet, which is a final test run ahead of the mainnet launch scheduled for April.

After the developers have tested the upgrade on Goerli, they plan to upload it to the mainnet next month if testing goes smoothly.

The main feature of the upgrade, Ethereum Improvement Proposal (EIP) 4895, aims to enable validators staking withdrawals on the mainnet. This feature was turned off to ensure a secure transition during Ethereum’s transition to proof-of-stake consensus in September 2022.

With the Shapella update, it was reported that all staked Ethereum tokens will not be released at once, but a gradual opening will be made. Some investors are worried that there may be a drop in ETH price with the released ETHs.

Goerli will be the third and final testnet used by developers to test the Shapella upgrade. Prior to Goerli, developers had run multiple stages of open testing on the Sepolia and Zhejiang public testnets since February.

Alongside withdrawals, developers have planned three additional improvements with the Shapella upgrade aimed at optimizing gas costs for certain activities.

*Not investment advice.

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